Cutting the cord or going all-in is not a viable option for me at this time with two young children who like food at home. 

. $100.00Second-floor bathroom. 5‘ 3“ x 5’3” Toilet paper holder missing. $25.00Touch up paint throughout room all walls-trim, and sills as needed. $100.00Remove and re-caulk tub $75.00Replaced two light bulbs candelabra small. $5.00Master bedroom 17‘2” 12‘6” Minor point up throughout room Spot prime and paint as needed. $200.00Scrape sand prime paint and caulk three windowsills. $75.00Bedroom needs new hardwired smoke detector with 10 year sealed battery. $60.00Back bedroom 11‘4“ by 12‘6“ Mine are pulling up to our room. $45.00Paint entire room walls ceiling trim windowsills and doors. $250.00Remove and replace smoke detector with new hardwired 10 year sealed battery. $60.00BasementFront room 11‘ x 12‘ Wipe down walls and spot paint as needed. $75.00Middle room/hallway Remove and replace combo detector for 10 year sealed battery. $100.00Wipe down walls and light touchup on doors walls trim. $125.00Hall and stairs closet needs to be scraped and painted due to water/flaking paint throughout closet. $125.00Bathroom 5‘ x 7‘ no pop up on pedestal sink. $125.00Light touch up throughout walls trim sills and ceiling. $100.00Laundry room 7‘ x 7‘ Water damage on ceiling and walls.

It's one or the other.If you plan to be legit, and 1099 anyone who works for you, then your workers comp/general liability policy holder will need a copy of their insurance policies.

@Margot BaldwinAs mentioned earlier, you are leaving a lot of information out for people to make an informed decision.i am not even sure how people are already commenting that you are in a great position without knowing all the facts.If we are talking about retirement, at the very least, we would need information such as the living expenses that you plan to spend on a yearly basis(living, food, entertainment, gym, travel, etc).Rental income of $5,300 a month appears to be gross.

Even after the property has been sold at auction, the second mortgage lender may pay off the required amount of money to the first mortgage holder and get the property back at the end of the "redemption" period.

@Brian Shinkle Your desired person will have to be met in person, over food or entertainment, paid by you.

Each apartment has three bedrooms and one bathroom and to room at my college is about $600 a month not including food.

Can meet somewhere with food and beverages if preferred.I'm flexible.

You will have high turnover this way though; the premium price point will likely continue to be a challenge for you until more yoga studios and Whole Foods pop up nearby, which does seem to be the trend. 

I would not leave it solely up to the tenant to deal with it...... but you need to attack the source of the issues which is often tenant hygiene...... mice come and stay where there are food sources, moisture and warmth.....